Kenya's foreign exchange reserves fall by Sh27 billion after servicing SGR loans

Central Bank of Kenya says  Kenya's 4.46 months of import cover meet its statutory requirement. File, Standard]

Kenya’s foreign exchange (FX) reserves dipped sharply by $226 million (Sh26.8 billion) after the National Treasury paid China loans borrowed to construct the Standard Gauge Railway (SGR).

Data from the Central Bank of Kenya (CBK) shows that FX reserves declined to $7.73 billion (Sh918.8 billion) by end of Friday from $7.95 billion (Sh942.9 billion) the previous Friday.